NewtekOne, Inc. (NASDAQ:NEWT) Given Average Rating of “Hold” by Brokerages

NewtekOne, Inc. (NASDAQ:NEWT) has earned an average recommendation of “Hold” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $14.50.

A number of brokerages have commented on NEWT. Weiss Ratings restated a “hold (c)” rating on shares of NewtekOne in a research note on Thursday, January 22nd. Piper Sandler increased their target price on NewtekOne from $12.50 to $13.00 and gave the stock a “neutral” rating in a report on Friday, January 9th. Finally, Wall Street Zen raised NewtekOne from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th.

Insider Activity

In other news, insider Michael Adam Schwartz acquired 2,247 shares of the company’s stock in a transaction dated Wednesday, January 14th. The stock was bought at an average price of $13.91 per share, with a total value of $31,255.77. Following the completion of the acquisition, the insider owned 49,713 shares in the company, valued at approximately $691,507.83. This represents a 4.73% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Barry Sloane bought 10,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was purchased at an average price of $10.22 per share, with a total value of $102,200.00. Following the purchase, the chief executive officer directly owned 1,212,459 shares of the company’s stock, valued at $12,391,330.98. The trade was a 0.83% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased a total of 21,845 shares of company stock valued at $258,141 over the last three months. 6.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NewtekOne

Hedge funds and other institutional investors have recently bought and sold shares of the business. Trust Co. of Vermont bought a new position in NewtekOne in the 2nd quarter valued at $29,000. Advisory Services Network LLC acquired a new stake in shares of NewtekOne in the third quarter valued at $46,000. IFP Advisors Inc raised its holdings in shares of NewtekOne by 74.9% in the second quarter. IFP Advisors Inc now owns 6,776 shares of the business services provider’s stock valued at $77,000 after buying an additional 2,901 shares during the last quarter. CWM LLC lifted its position in NewtekOne by 728.7% during the 2nd quarter. CWM LLC now owns 8,610 shares of the business services provider’s stock worth $97,000 after buying an additional 7,571 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in NewtekOne during the 2nd quarter worth about $107,000. 38.35% of the stock is owned by institutional investors and hedge funds.

NewtekOne Stock Performance

Shares of NewtekOne stock opened at $13.67 on Thursday. NewtekOne has a 52-week low of $9.12 and a 52-week high of $14.91. The firm has a market capitalization of $394.93 million, a PE ratio of 6.13 and a beta of 1.23. The company has a debt-to-equity ratio of 5.69, a current ratio of 0.67 and a quick ratio of 0.67. The company’s fifty day moving average price is $12.10 and its two-hundred day moving average price is $11.63.

NewtekOne (NASDAQ:NEWT) last issued its earnings results on Wednesday, October 29th. The business services provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.04. The business had revenue of $74.94 million for the quarter, compared to analyst estimates of $78.31 million. NewtekOne had a net margin of 15.59% and a return on equity of 19.93%. On average, analysts expect that NewtekOne will post 1.93 EPS for the current year.

NewtekOne Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Monday, December 22nd were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $0.76 annualized dividend and a dividend yield of 5.6%. NewtekOne’s dividend payout ratio is presently 34.08%.

NewtekOne Company Profile

NewtekOne, Inc (NASDAQ: NEWT) is a publicly traded business development company that specializes in providing financial and business services to small and medium‐sized enterprises across the United States. Operating under the trade name The Newtek Small Business Finance, the company offers a diversified array of lending solutions designed to meet the working capital, equipment acquisition and growth needs of its clients.

The company’s core lending offerings include Small Business Administration (SBA) 7(a) loans, equipment financing, lines of credit and commercial real estate financing.